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Eron Lenders
Project Name: Gateway Developments (Alberta) Ltd, Grande Prairie, Alberta
Lender update
February 5, 1999
The Judicial Trustee is calling a general meeting of all Gateway Lenders to be held at the following time and location:
Date: Tuesday, February 16, 1999
Time: 7:00 pm
Place: The Residence Inn by Mariott, Cypress Room
1234 Hornby Street, Vancouver, BC
The purpose of the meeting is as follows:
1. The Judicial Trustee will provide a brief update on the status of the project.
2. Several significant events have recently occurred that could adversely impact the recovery value of the project. The Judicial Trustee will explain these events and seek input from the Gateway Lenders to develop a go forward plan.
3. Currently no Committee exists for this project. The Judicial Trustee suggests that a new Lender's Committee be elected to assist in gathering Lender input on future decisions, so as to expedite the Judicial Trustee's recovery efforts. This meeting will allow the Lenders to elect a new Committee and define its role and mandate.
The Judicial Trustee has received an expression of interest from the following Lenders indicating their willingness to be part of the proposed Committee: Ian Wragge, Jay Mason, Dr. Jane Sproul, Peter Kwok and Sandra Best. A vote will be held to confirm the above Lenders appointment to the Committee. If you are unable to attend the meeting please send (fax, courier) your proxy to the Judicial Trustee or another fellow lender who will be attending the meeting.
Yours truly,
PricewaterhouseCoopers Inc.
Judicial Trustee
Craig Bushell
If you are unable to attend the meeting, you may wish to complete the form below to transfer your vote to another party. This will allow another party to vote for you in your absence. If you wish to transfer your vote, please complete the form below and fax to (604) 688-6128.
__________________________________________________
I, ________________________ Lender to the
Gateway Development (Alberta) Ltd. mortgage,
wish to assign my vote to ________________________,
for the purposes for voting on my behalf at the February 16, 1999.
Signature ________________________.
Date ________________________.
PricewaterhouseCoopers is a Canadian member firm of PricewaterhouseCoopers International Limited, an English company limited by guarantee.
PricewaterhouseCoopers Inc.
601 West Hastings Street
Suite 1400
Vancouver, BC
Canada V6B 5A5
Telephone +1 (604) 682 4711
Facsimile +1 (604) 662 5300
Direct phone (604) 669-5087, Ext. 416
Direct fax (604) 688-6128
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